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Home / Metal News / SMM Brief on SHFE Aluminum Futures: Upward Momentum Limited on Strong Bearishness (2013-1-17)

SMM Brief on SHFE Aluminum Futures: Upward Momentum Limited on Strong Bearishness (2013-1-17)

iconJan 17, 2013 16:26
SHFE 1303 aluminum contract prices drifted lower to RMB 15,120/mt after opening at RMB 15,140/mt on January 17.

SHANGHAI, Jan. 17 (SMM) – SHFE 1303 aluminum contract prices drifted lower to RMB 15,120/mt after opening at RMB 15,140/mt on January 17. Finally, the March aluminum on the SHFE closed unchanged from the previous trading day at RMB 15,155/mt. Positions were down 862 lots to 60,660 lots. The Shanghai Composite Index remained in correction, triggering strong bearish sentiment. The most-traded SHFE aluminum contract is expected to test support at RMB 15,100/mt while awaiting China’s 4Q GDP due tomorrow for guidance.
 

current SHFE aluminum prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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